1. The purpose of this chapter is to do all of the following:
- a. Provide the commissioner with a summary of an insurer’s or insurance group’s corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer’s or insurance group’s corporate governance framework.
- b. Outline the requirements for an insurer or insurance group to complete a corporate governance annual disclosure for submission to the commissioner.
- c. Provide for the confidential treatment of the corporate governance annual disclosure and related information that contains confidential and sensitive information related to an insurer’s or insurance group’s internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.